Capco, the global business and technology consultancy dedicated solely to the financial services industry, has announced today that Andrew Tarver has been appointed Capco's UK Chief Executive Officer. Thirty-five year old Andrew was previously a Partner in Capco's UK capital markets team. Ismail Amla, Capco's previous UK CEO, will now head Capco's North American practice.
Andrew has 12 years' experience in financial services consultancy serving tier one capital markets clients. Throughout his career he has been responsible for planning and executing global change programmes, defining technology and operations strategies, designing target operating models and specialising in process and technology delivery across a range of derivative products. Andrew joined Capco in 2010 from Accenture where he was a Partner in the firm's Capital Markets practice.
Andrew Tarver, Capco Partner and UK CEO, said:
"I am delighted to have been asked to lead Capco's UK business. I am proud to be part of a firm that prioritises the interests of its people and clients above everything else. We have a client-centric approach in all that we do and I will look to ensure that we continue to act as trusted advisers, challenging our clients to think differently.
"This is an exciting time to be working in the financial services industry alongside the sector's leading firms, but even more so, an exciting time to be part of Capco. We are incorporating the most innovative thinking into all our offerings, including the implications of mobile banking, social networking and creative solutions to address regulatory change, to ensure our clients have the very best solutions, delivered by the best talent in the industry.
"For example, a major challenge we are helping clients address is the diminishing Return on Equity (RoE). RoE targets are being revised downward as capital scarcity, leverage constraints and pressure on product innovation limit revenue growth, whilst cost bases are largely unchanged from the peak of the last banking boom. Financial institutions are retrenching from their previous product and market growth strategies. Many have embarked on formal cost of capital reviews to identify value destroying business lines and functions.
"Rather than simply reducing costs, we strongly believe institutions should be taking the opportunity today to identify new revenue streams through innovation and by "sweating" their existing assets better. Capco is working to architect the future financial operating model, where it can act as both a partner and a participant."
Peter Schurau, Partner and CEO for Europe, said:
"I look forward to working closely with Andrew to further develop Capco's UK offering. At Capco we reward excellence regardless of age and Andrew's appointment as UK CEO reflects the significant contribution he has already made to the company.
"His predecessor, Ismail Amla, leveraged the economic environment to significantly grow Capco's UK business and Andrew is well-placed to continue this trajectory. Capco is now a part of the FIS™ family and Andrew will be working with our parent firm to identify and leverage UK business opportunities."